Plus500 obtains licence in United Arab Emirates

RNS Number : 9445O

Plus500 Limited

06 February 2023

 

6 February 2023

Plus500 Ltd.

("Plus500", the "Company" or together with its subsidiaries the "Group")

Plus500 obtains licence in United Arab Emirates, as global expansion continues

Plus500, the global multi ‐ asset fintech group operating proprietary technology-based trading platforms, is pleased to announce that it has obtained a licence from the Dubai Financial Services Authority ("DFSA") in the significant and high growth market of the United Arab Emirates ("UAE").

This new licence, which is effective immediately, offers a major growth opportunity for Plus500, by allowing the Group to expand its offering to customers across the UAE.

David Zruia, CEO of Plus500, commented:

"We are delighted to have received licence authorisation from the DFSA in the UAE and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our customers.

"Since 2020, the Group has successfully obtained licences in the US, Japan, Estonia, the Seychelles and the UAE, including through acquisitions. Consequently, Plus500 has a valuable and growing portfolio of twelve licences, ensuring that our growing business continues to be built on a strong regulatory foundation."

For further details:

Plus500 Ltd. Elad Even-Chen, Chief Financial Officer Rob Gurner, Head of Investor Relations	[phone] [phone] [e-mail]
Brunswick Charles Pretzlik, Partner Paul Durman, Partner	[phone] [e-mail]

About Plus500

Plus500 is a global multi-asset fintech group operating proprietary technology-based trading platforms. Plus500 offers customers a range of trading products, including OTC ("Over-the-Counter" products, namely Contracts for Difference (CFDs)), share dealing, as well as futures and options on futures.

The Group retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, Singapore, the Seychelles, the United States, Estonia, Japan and the UAE and through its OTC product portfolio, offers more than 2,500 different underlying global financial instruments, comprising equities, indices, commodities, options, ETFs, foreign exchange and cryptocurrencies. Customers of the Group can trade its OTC products in more than 50 countries and in 30 languages. Plus500 does not permit customers located in the US to trade its OTC products.

Plus500 does not utilise cold calling techniques and does not offer binary options. Plus500's trading platforms are accessible from multiple operating systems (Windows, iOS and Android) and web browsers. Customer care is and has always been integral to Plus500, as such, OTC customers cannot be subject to negative balances. A free demo account is available on an unlimited basis for OTC trading platform users and sophisticated risk management tools are provided free of charge to manage leveraged exposure, and stop losses to help customers protect profits, while limiting capital losses.

Plus500 shares have a premium listing on the Main Market of the London Stock Exchange (symbol: PLUS) and are a constituent of the FTSE 250 index. www.plus500.com

 

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